Avantel Appoints Two Independent Directors and New Auditors
Avantel appointed Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi as Independent Directors for five years. The company also appointed M/s. Grandhy & Co. as Statutory Auditors for five years, M/s. MPR & Associates as Cost Auditor, and M/s. Ramesh & Co. as Internal Auditor for FY27.
The appointment of independent directors and auditors is crucial for corporate governance and operational oversight. While these are standard procedures, experienced individuals can bring valuable expertise, potentially impacting strategic direction and compliance, thus having a medium-term impact.
The announcement pertains to routine corporate governance changes including board appointments and auditor appointments, which are standard procedures and do not inherently indicate a positive or negative shift in the company's performance or outlook.
Avantel Limited announced key appointments following a Board of Directors meeting held on April 26, 2026. The company has appointed Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi as Additional Directors (Non-Executive - Independent) for a term of five years, from April 26, 2026, to April 25, 2031.
Dr. Kandasamy brings over four decades of experience in defense research and development, with a notable career at DRDO, where he led major aerospace programs exceeding ₹10,000 crore. Mr. Muktevi is a seasoned corporate management professional with over four decades of experience across various industries including infrastructure, manufacturing, and financial services.
The Board also approved the reconstitution of its Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee.
Furthermore, M/s. Grandhy & Co. has been appointed as the Statutory Auditors for a second term of five consecutive years, subject to shareholder approval at the upcoming AGM. M/s. MPR & Associates has been appointed as the Cost Auditor for the financial year ending March 31, 2027, and M/s. Ramesh & Co. as the Internal Auditor for the same period.
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Avantel Limited filed this with the NSE as a statutory disclosure, categorised under board changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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